Record results and £3.4bn order book for United Living Group
United Living Group, the Warrington-based infrastructure, construction, and property services company, has reported record financial figures for the year to March 31, 2024.
Revenues increased 17% to £627.2m, adjusted EBITDA increased by 34% to £53.2m and cash profit before tax increased to £31m, compared with £28.6m previously.
Gross cash held at the year end remained strong at £52m, against £55.8m in 2023.
New contracts worth £900m were secured during the period across all four business pillars, and the secured order book was £3.4bn as of March 31, 2024.
Since the end of the 2024 financial year the group acquired AFECO, a specialist engineering services and solutions company focused on the water, marine and energy sectors in April 2024, and a majority stake in both GTEC Training, a training specialist, and Thormer Solutions, developer of Heatly, a digital tool that makes heat pump system design, surveying and installation easier, in June 2024.
Neil Armstrong, Chairman and CEO of United Living Group, said: “We are pleased to announce another record financial result for United Living, ending the period with a strong cash position and a significant order book of secured future work, which reflects the growth across our four complementary business pillars.
“The group is benefiting from the many opportunities in the well-established infrastructure and property sectors.
“In the infrastructure sector, these come from network upgrades, and new infrastructure required for hydrogen and Carbon Capture, Utilisation and Storage, and the related decarbonisation of heat, AMP8 in the water sector, and the continued roll-out of 5G across the UK in the telecoms sector.”
He added: “New property regulatory requirements relating to building safety, damp and mould and net zero are driving an increase in the requirement for property services to improve the conditions of existing housing stock and demand for new, affordable homes is increasing to align with the Government’s targets.
“Apollo Impact platform’s investment in the group in August 2023 has helped enable us to invest and grow within our focused business sectors.
“United Living is well positioned to continue its strong organic growth and add value through strategic acquisitions which are complementary to our existing activities.”
